Mortgage Loan Portal

Frequently Asked Questions

We are pleased to announce the conversion of our mortgage-servicing system. This will automate several internal processes and improve access to your mortgage information, with an upgraded self-service portal. Payments through the current self-service portal, MyMortgageInfo, were disabled effective May 10, 2022. We will completely disable MyMortgageInfo on May 19. The conversion to the new Mortgage Loan Portal is scheduled for May 26.

What is staying the same?

• Your mortgage will continue to be serviced through IU Credit Union.
• Your loan number will remain the same.
• If applicable, your auto-payment set up through the IU Credit Union will convert with the same timing and payment amount.
  
  Please Note: Recurring transfers that you have scheduled through Online Banking will no longer work after the conversion. You will be able to set up recurring payments in the new Mortgage Loan Portal once we are live.

What is new?

• Mortgage Loan Portal – the new Mortgage Loan Portal will be accessible via Online Banking and through our Mobile Banking app. You will no longer need a separate username and password to access your mortgage information. Simply click on Mortgage Loan in your list of accounts once you log in to Online or Mobile Banking, and you will be automatically logged in to the Mortgage Loan Portal.
  
  You will have access to your mortgage information, such as your rate, maturity date, balance, payment details, tax and insurance information, loan history, etc., and be able to set up one-time or recurring online payments from your IUCU account or another financial institution.
  
  Please Note: If you have been making one-time payments via MyMortgageInfo, your payment account information will not convert. You will be required to add your payment account again in the new Mortgage Loan Portal. Due to new ACH payment validation rules, it will take four (4) business days to validate the payment information before the initial payment is processed. This validation process must take place any time new payment information is entered.
  
  
  
• Statements and Coupons – in the past, you have received a quarterly mortgage statement. We also provided a coupon book, unless your mortgage payment was set up on recurring auto pay within our mortgage loan system. You will begin receiving a monthly mortgage loan statement in June, which will include a tear off coupon, replacing the coupon book.
  
  Please note: If you are enrolled in eStatements for your IU Credit Union account, starting in June, your monthly mortgage statement will be sent as an eStatement, and you will no longer receive a statement through the mail. As always, be sure to watch your email for notifications when new eStatements are ready to view. If you mail your payment, simply print the coupon or add your loan number to the memo line of your check.
  
  
  
• New Self-Serve Payment Option – In addition to one-time payments, you will now be able to set up recurring payments through the new Mortgage Loan Portal. You can choose to pay the exact mortgage payment or make the payment plus additional to principal. You can set up payments from your IU Credit Union account or another financial institution. As stated previously, the first time a new payment account is used, the payment will be delayed for validation, due to ACH payment rules.
  
  Please note: If you choose to pay your mortgage from your IUCU accounts through Online or Mobile Banking, you will no longer pay by transferring funds. You will set up payments through the Mortgage Loan Portal and choose IU Credit Union as the financial institution the payment is coming from. You will need our routing number, 274972744, and your account MICR number. You may specify any checking or savings account as long as you enter the MICR #. To locate this number, log in to Online or Mobile Banking, click on the savings or checking that you want your payment to come from, click on ‘account details’ or ‘details’ in the top section of your account history and you will find the MICR number to enter for your mortgage payment information. You will only need to set up this payment method once and it will be available for future payments.
  
  

Thank you for your patience during this process. We hope that you will enjoy the convenient access to your mortgage information and payments—directly through Online and Mobile Banking.

Frequently Asked Questions

Accessing the Mortgage Portal

• Can I access the Mortgage Loan Portal outside of Online and/or Mobile Banking?
  • The Mortgage Loan Portal can only be accessed via Online and/or Mobile Banking using single sign-on. You do not need a separate username and password to access the Portal.



 

Payments

• Can I make a principal-only payment in the Mortgage Loan Portal?
  • If you schedule a one-time or recurring mortgage payment in the Mortgage Loan Portal, at a minimum, you must always make your monthly payment. You have the option of paying your monthly payment plus additional principal. You cannot make a principal-only payment in the Portal.
• Can I pay off my mortgage in the Mortgage Loan Portal?
  • Due to how payoffs are calculated and processed, you cannot pay off your mortgage loan through the Mortgage Loan Portal.
• Can I make a partial payment in the Mortgage Loan Portal?
  • At a minimum, the Mortgage Loan Portal requires that you make a full payment. It will not allow partial payments.
• Is there a fee to make a payment in the Mortgage Loan Portal?
  • No, you can set up one-time or recurring payments at no charge.
• If I schedule a payment with a new payment account, is there any delay?
  • Yes, to comply with ACH rules, the Credit Union must validate each account number that is entered as a payment account. Please allow four (4) business days for this validation process. On business day five, the payment that you scheduled will be processed. Please keep in mind that this payment delay only applies when a new payment account is utilized.
• What is the daily payment cutoff?
  • If a payment is scheduled by 3:00 PM ET, the payment will be applied the same day. If the payment is scheduled after 3:00 PM ET, it will be applied the next day. Funds from your savings or checking account will be deducted on or after the payment date.
• How do I cancel a payment?
  • You can cancel the payment prior to 3:00 PM ET in the Mortgage Loan Portal. After 3:00 PM ET, same day payments cannot be cancelled. If you need to cancel a future-dated payment, please contact a representative at 812-855-7823 or 888-855-6928 prior to the scheduled payment date.



 

Transaction History

• Can I access my transaction history in the Mortgage Loan Portal?
  • Yes, you can access your mortgage loan transaction history, including payments made from your Tax & Insurance (escrow) account. To access, click on Payments > Payment History. To see the detail of the payment, click on View. It will accumulate for 24 months of history.



 

Year-to-Date Information

• Can I access my year-to-date information in the Mortgage Loan Portal for tax purposes?
  • Yes, the Mortgage Loan Portal provides current year-to-date information. Starting January 2023, you will be able to access previous year-to-date information. You can access by clicking on Loan Details > Balances. You can toggle back and forth between Current Year-To-Date Totals and Previous Year-To-Date Totals.



 

Statements & Coupons

• Can I set up eStatements for my mortage loan?
  • Yes; however, IU Credit Union’s eStatement portal is within Online and/or Mobile Banking, not the Mortgage Loan Portal. If you already have your IU Credit Union account set up for eStatements, your Mortgage Statement will automatically be sent via eStatement as well. eStatements are maintained in the eStatement and Notice portal for two years.
    
    If you are not enrolled in eStatements, access eStatements & Notices within Online Banking by clicking on the eStatements & Notices tab or click on More within Mobile Banking.
• How often will I receive my statement?
  • Mortgage statements will be generated monthly.
• Will I receive coupons for my mortgage loan?
  • The Credit Union does not generate a coupon book; however, there will be payment coupon attached to the bottom of your monthly mortgage statement. For your convenience, we encourage you to make your payment electronically within the Mortgage Loan Portal. You can make a one-time or recurring payments.
• Can I request a Payoff Statement in the Mortgage Loan Portal?
  • Yes, simply click on Help & Support and select Payoff Request. The Payoff Statement will be available under Account Info > Documents once it has been processed. Please allow up to 3 business days for processing.